Sanggye-dong's Largest Complex 'Sanggye Boram' to Be Rebuilt with 45 Floors and 4,483 Units [Real Estate AtoZ]

Aiming to Establish Promotion Committee and Cooperative Next Year

The largest apartment complex in Sanggye-dong, Nowon District, Seoul, Sanggye Boram Apartment, is planning a reconstruction project to build up to 45 stories and 4,483 units. The project is expected to accelerate, aiming to establish the Promotion Committee and Cooperative next year.

Panorama of Sangye Boram Apartment Complex. Naver Map

On December 26, the Nowon District Office announced that it will conduct a public notice for the establishment of the reconstruction maintenance plan and designation of the maintenance zone for Sanggye Boram Apartment until January 20 of next year. Completed in 1988, Sanggye Boram Apartment is a large complex consisting of 21 buildings and 3,315 units, located in the 685 Sanggye-dong area. It is situated between Madeul Station on Line 7 and Sanggye Station on Line 4. The complex is adjacent to schools such as Sanggok Elementary, Eungok Elementary, Cheongwon High School, and Cheongwon Girls' High School, and is also close to the Hagwon district in Junggye-dong. In Nowon District, it is the third largest complex after Wolgye Miryung Miseong Samho 3rd and Junggye Green.

If the reconstruction proceeds, the project will be eligible for a maximum floor area ratio of 264.67% through incentives such as the donation of public facilities. The new complex will consist of a total of 4,483 units: 192 units of 42 square meters, 537 units of 49 square meters, 1,455 units of 59 square meters, 1,263 units of 74 square meters, and 1,036 units of 84 square meters. There will be a total of 316 rental units. The project includes the donation of public office space (Sanggye 9-dong Community Center) and social welfare facilities (Silver Care Center), as well as the construction of shared facilities within the complex, such as a daycare center, small library, community care center, and senior center.

The Reconstruction Promotion Preparation Committee plans to establish the Promotion Committee next year, followed by the formation of a cooperative. To propose the initiation of the reconstruction maintenance plan to the district office, agreement from more than 50% of land and property owners is required. The same 50% consent rate is also needed to establish the Promotion Committee.

A banner stating that the Reconstruction Promotion Preparation Committee has submitted the maintenance plan proposal is hung within the Sanggye Boram Apartment complex. Provided by the Sanggye Boram Reconstruction Promotion Preparation Committee

A representative of the Preparation Committee stated, "Once the maintenance zone designation is completed, we plan to establish the Promotion Committee. We expect the zone designation process to be completed by spring next year. As this is a large complex with over 3,000 units, increasing the floor area ratio will result in more than 1,000 additional units, and the estimated individual contribution is around 300 million won. Major construction companies are also showing interest in the project."

This complex is the third among the 19 maintenance project sites being promoted under the expedited planning process in Nowon District to submit a maintenance plan, following Sanggye Hanshin 3rd and Taereung Woosung. A Nowon District official commented, "After the public notice, we will gather opinions from the council and consult with relevant departments. Our goal is to have the Seoul City Urban Planning Committee review the project in the first half of next year."

Meanwhile, a 54-square-meter unit in Sanggye Boram was sold for 475 million won on December 8, and a 68-square-meter unit was sold for 570 million won on November 18. These prices are more than 20% lower than the peak prices recorded in 2021.